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Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-87-108. Amount of insurance

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) CREDIT LIFE INSURANCE. The amount of credit life insurance shall not exceed the original amount of the indebtedness and any interest included therein.

(b) CREDIT DISABILITY INSURANCE. The amount of periodic indemnity payable by credit disability insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of indebtedness and shall not exceed the original indebtedness and any interest included therein divided by the number of periodic installments.

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Cite this article: FindLaw.com - Arkansas Code Title 23. Public Utilities and Regulated Industries § 23-87-108. Amount of insurance - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-23-public-utilities-and-regulated-industries/ar-code-sect-23-87-108/

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